Bolt(bolt.com)

5 years ago from Philip Lester, CEO @ Dreamten & GiveForms

  • Matt KMatt K, 5 years ago

    The pricing page is pretty disingenuous.

    "Platform and Support. Free for a limited time. Save $1,500 integration fee and $900/month in support fees" – How much time exactly? So at some random point I'm going to be charged $1500 plus another $900 a month? What are these fees? They're not charged by other gateways.

    "Payment processing. We'll match your current rate." – Again, for how long? The basic processing fees are double what Stripe charges.

    "Bolt fee. Minimal compared to revenue lift" – There's another charge on top of platform, support and processing? What for? What does minimal mean? 2%? 30%? Who decides?

    "The end of hidden fees. No more games. Save real money with Bolt's simple pricing."

    Seems like the definition of complex and hidden to me. As well as making Bolt look like it's potentially very expensive, the page is worryingly light on detail. Certainly vague enough that I wouldn't consider building a new product on their service. A conversion page like this should work to take down red flags, not raise a whole forest of new ones.

    As a counterpoint, the Stripe page is a really good example of simple, transparent pricing.

    3 points
    • Philip LesterPhilip Lester, 5 years ago

      It's likely they are still testing their pricing model, which is common for startups. Commit to publicizing your pricing and it's pretty hard to change it down the road.

      0 points
    • Itay Abraham, 5 years ago

      Stripe charges 2.9% + $0.30 and so are Bolt. Where did you see that Bolt charges double what Stripe does?

      0 points
    • Ryan Breslow, 5 years ago

      Platform and support -- we're not a standard payments gateway, we're replacing several different tools. For small companies, this is easy. For large companies, its a huge process. We're waiting that fee (it requires us to dedicated resources). If we waive it when you signup, we'll never charge it in the future.

      Matched processing -- forever. We'll never hike the price.

      Bolt Fee -- typically a very low single digit %. Pricing varies depending on volume, risk, and a number of different factors given the complexity of payments (and that we're taking on full liability). But after a short call we provide a very simple flat rate with no BS. As much as we'd like to do one price, given the nature of our product, it's just not viable at this time. Stripe and other payment processors, take on no liability on behalf of your business. So it's easier for them to give simple pricing. If you're a victim of fraud, you're paying the bills, not them.

      0 points